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14 Jan 2015
USD/JPY extends recovery above 117.30
FXStreet (San Francisco) - After climbing over 130 pips from 116.05 to break above 117.00, USD/JPY is extending the recovery to 117.40.
Currently, USD/JPY is trading at 117.36, down 0.41% on the day, having posted a daily high at 117.98 and low at 116.07. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/JPY Sentiment
According to FXStreet chief analyst Valeria Bednarik, "in the 4 hours chart indicators are bouncing from oversold territory, suggesting the pair may correct higher, particularly if the pair regains the 117.30 level immediate resistance."
Above the 117.30, the pair will find next resistances at 117.90 and 118.00. To the downside, supports are at 116.65 and 116.05.
Currently, USD/JPY is trading at 117.36, down 0.41% on the day, having posted a daily high at 117.98 and low at 116.07. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/JPY Sentiment
According to FXStreet chief analyst Valeria Bednarik, "in the 4 hours chart indicators are bouncing from oversold territory, suggesting the pair may correct higher, particularly if the pair regains the 117.30 level immediate resistance."
Above the 117.30, the pair will find next resistances at 117.90 and 118.00. To the downside, supports are at 116.65 and 116.05.